TrendSetter Solar Products announces re-organization
TrendSetter Solar Products Inc. announced that the Company has effected a reverse split of its common shares.
NormanEhrlich, TrendSetter’s CEO and Chairman, announced the reverse split ofone for two hundred of the Company’s common shares has become effectiveFebruary 25, 2010. The outstanding common shares, post reverse isapproximately 34 million. The authorized common shares were reversed acomparable amount.
Subsequent to the reverse, the number ofauthorized common shares is 49.7 million. The new trading symbol isTSSPD. Please note, this symbol will revert to the Company’s priorsymbol, TSSP, on or about March 23, 2010.
Ehrlich, founder ofTrendSetter, said: “The company has changed management and is now underthe guidance of its founder. During 2009 the company’s position was toreduce overhead and to avoid acquiring new debt until the economicsigns for an improved market in solar energy turned positive. Thecompany used its resources to prepare for the emerging alternativeenergy market by developing a new technology and product, ‘PIGGYBACK’residential solar water heater, that is now in the prototype andpatenting phase.
“TrendSetter continues to have a strongposition in large commercial solar storage tanks and its TrendSetterbrand evacuated tube solar collectors. We believe the time is right tomove aggressively forward due to new rebate programs, grants, statutorycommitments (RPS, Renewable Portfolio Standard) and energy creditsbeing offered by the federal government and the individual states,cities and municipalities."
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